French energy company abandons Iran project after US about-face.....

Well now.....that didn't take long. All it took was Trump putting Sanctions on Iran. There goes that leftist theory about the Euros just ignoring US Sanctions. Plus Trump can keep them in limbo on any waiver.

French-energy company Total SA is halting development of a large Iranian gas field unless it receives a waiver from the U.S., which is reimposing stiff sanctions targeting the Islamic republic.

Total cited that concern in announcing it was halting work with the Iranian national oil company subsidiary PetroPars to develop the South Pars natural gas field.

The firm, which is seeking a waiver from the U.S., will have to unwind all project operations before Nov. 4 if it doesn't receive one. At risk, Total said, is financing from U.S. banks, the loss of U.S. shareholders and the inability to continue U.S. operations. The company said it has spent less than 40 million euros, or $47 million, on the project so far.

A top Chinese energy company also involved in Total's agreement said it would take the French company's place if necessary......snip~

Well now.....that didn't take long. All it took was Trump putting Sanctions on Iran. There goes that leftist theory about the Euros just ignoring US Sanctions. Plus Trump can keep them in limbo on any waiver.

French-energy company Total SA is halting development of a large Iranian gas field unless it receives a waiver from the U.S., which is reimposing stiff sanctions targeting the Islamic republic.

Total cited that concern in announcing it was halting work with the Iranian national oil company subsidiary PetroPars to develop the South Pars natural gas field.

The firm, which is seeking a waiver from the U.S., will have to unwind all project operations before Nov. 4 if it doesn't receive one. At risk, Total said, is financing from U.S. banks, the loss of U.S. shareholders and the inability to continue U.S. operations. The company said it has spent less than 40 million euros, or $47 million, on the project so far.

A top Chinese energy company also involved in Total's agreement said it would take the French company's place if necessary......snip~

Despite their anger European leaders will not risk rupture of their links with the US because of Iran

by Alexander MercourisALEXANDER MERCOURIS
May 11, 2018, 03:17

Ever since Donald Trump’s announcement that the US would pull out of the Joint Comprehensive Plan of Action (“JCPOA”) with Iran and would unilaterally impose across-the-board sanctions on that country, a procession of European leaders including the leaders of the US’s most powerful European allies – Britain, France and Germany – have publicly declared their intention to stand by the JCPOA.

There is also brave talk of the EU creating safeguards for European companies which in defiance of the US continue to trade or do business with Iran.

Whilst there is no doubt European leaders are deeply shocked by Donald Trump’s announcement of a pullout from an international agreement in negotiating which the EU played a large part, I strongly doubt that they will find the courage or the willpower to defy the US by in effect encouraging their companies to continue to do business with Iran.

It should be said that even with such active encouragement it is unlikely in my opinion that big European companies like Daimler or Airbus will risk US fines by continuing to do business with Iran. Even if European governments were to guarantee them against any losses caused by such fines, they would worry about losing access to the US market, which utterly dwarfs Iran’s.

Despite their anger European leaders will not risk rupture of their links with the US because of Iran

by Alexander MercourisALEXANDER MERCOURIS
May 11, 2018, 03:17

Ever since Donald Trump’s announcement that the US would pull out of the Joint Comprehensive Plan of Action (“JCPOA”) with Iran and would unilaterally impose across-the-board sanctions on that country, a procession of European leaders including the leaders of the US’s most powerful European allies – Britain, France and Germany – have publicly declared their intention to stand by the JCPOA.

There is also brave talk of the EU creating safeguards for European companies which in defiance of the US continue to trade or do business with Iran.

Whilst there is no doubt European leaders are deeply shocked by Donald Trump’s announcement of a pullout from an international agreement in negotiating which the EU played a large part, I strongly doubt that they will find the courage or the willpower to defy the US by in effect encouraging their companies to continue to do business with Iran.

It should be said that even with such active encouragement it is unlikely in my opinion that big European companies like Daimler or Airbus will risk US fines by continuing to do business with Iran. Even if European governments were to guarantee them against any losses caused by such fines, they would worry about losing access to the US market, which utterly dwarfs Iran’s.

Oh and now Airbus is already rethinking about sending any of those planes and training Iranians.

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What about blocking statute did you not get? Its totally irrelevant what Airbus thinks. When the blocking statute is issed, Airbus is forced to follow the deal. Its that easy. EU foreign representative Mogherini said if they dont follow the deal, they get heavy penalties up to 20 billion€.

Yeah like TPP, the Paris Accord and all that bluffing. The only ones that broke that was the Euros. We don't have a problem allowing your EU to fall apart.

Now Italy is talking about bailing on the EU. Soon no one will want to give you their money.

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He did only bluff towards us. So far he never dared to take action against Europe. Just words and that is a crucial time. We dont accept his methods any longer. He either changes or we force him to change. We are not american vassals.

We dont have a problem to allow your world empire to fall apart either.